Submission of intimation of corrigendum to the EGM Notice.
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Astal Laboratories has issued a corrigendum to its EGM notice (EGM scheduled for November 6, 2025) ahead of a proposed preferential share issue meant to fund the acquisition of 100% of Sriven Pharmachem India Private Limited via a share swap. During BSE's review, it was found that one proposed allottee, Ms. Niharika Bansal, had sold 100 shares on July 17, 2025, violating SEBI ICDR Regulation 159(1)(c) (no sale within 90 trading days before the relevant date). She has therefore been disqualified from receiving her 32,555 allotted shares. The number of shares to be issued has been reduced from 3,04,58,187 to 3,04,25,632, with the issue size now standing at about Rs. 276.87 crore. The company will settle Ms. Bansal's portion of the Sriven Pharmachem deal in cash rather than via shares. All other items in the original EGM notice remain unchanged.
Minor dilution adjustment for existing shareholders — slightly fewer new shares will be issued than originally planned, marginally limiting dilution. The core acquisition of Sriven Pharmachem still proceeds, though a small portion will be cash-funded instead of share-swapped. Shareholders should review the revised shareholding pattern before voting at the EGM.